Berkshire Bank Sells 1,242 Shares of International Business Machines Corporation $IBM

Key Points

• Berkshire Bank has reduced its stake in IBM by 33.5%, selling 1,242 shares, leaving them with 2,462 shares valued at $726,000.
• Several institutional investors, including GAMMA Investing LLC and Vanguard Group Inc., have significantly increased their holdings in IBM, contributing to a total of 58.96% institutional ownership.
• IBM reported $2.80 earnings per share for its latest quarter, exceeding expectations and reflecting a year-over-year revenue increase of 7.7%.

Berkshire Bank cut its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 33.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,462 shares of the technology company's stock after selling 1,242 shares during the period. Berkshire Bank's holdings in International Business Machines were worth $726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. GAMMA Investing LLC boosted its stake in International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares during the period. GQG Partners LLC acquired a new position in International Business Machines in the 1st quarter worth $1,040,057,000. Nuveen LLC acquired a new position in International Business Machines in the 1st quarter worth $960,386,000. Vanguard Group Inc. boosted its stake in International Business Machines by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock worth $23,159,637,000 after purchasing an additional 1,298,515 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in International Business Machines by 41.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company's stock worth $787,007,000 after purchasing an additional 930,448 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IBM. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Wedbush increased their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. increased their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. UBS Group increased their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday, July 24th. Finally, BMO Capital Markets increased their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $275.00.

International Business Machines Stock Up 0.5%

International Business Machines stock opened at $257.45 on Wednesday. The stock has a market cap of $239.27 billion, a P/E ratio of 41.79, a P/E/G ratio of 3.95 and a beta of 0.71. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a twelve month low of $203.51 and a twelve month high of $296.16. The company's 50-day moving average price is $256.20 and its two-hundred day moving average price is $256.99.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. During the same period in the prior year, the firm earned $2.43 EPS. The business's revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were issued a dividend of $1.68 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 annualized dividend and a dividend yield of 2.6%. International Business Machines's dividend payout ratio (DPR) is currently 109.09%.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.

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